Melt butterscotch morsels in top of a double boiler over simmering water. Remove from heat, and stir in graham cracker crumbs, melted butter, and beaten egg. Cool slightly.
Add marshmallows and peanuts to butterscotch mixture, stirring well. Shape dough into a roll, 2 inches in diameter; wrap in waxed paper, and chill thoroughly.
Unwrap roll, and press coconut evenly over surface of roll. Cut into 1/4-inch-thick slices.
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