Peanuts can emerge from great depths. I generally recommend no shallower than 2 inches. Error on the side of deeper. A few years ago we planted peanuts at depths of 1, 2, 3 and close to 4 inches. The 1, 2 and 3-inch plantings came up on the same day. The 4-inch plantings emerged a day or so later. A stand was made from all four depths. Try not to plant shallow as this increases the likelihood that liquid inoculant will die if it turns hot and dry. Injury from Valor can be greater if seed are planted shallow. More of the seedling is exposed to splash up injury.