Preheat oven to 400° F. Combine flour, sugar, baking powder, and salt in a mixing bowl. Cut in peanut butter with a pastry blender or fork until mixture resembles coarse crumbs. Add milk and eggs all at once, stirring just until flour is moistened.
Place 2 tablespoons of batter in 12 greased muffin cups. Place 1 teaspoon of preserves in center of batter and top with 2 tablespoons batter. Bake at 400° F for 15 to 17 minutes.
Yield: 12 muffins.