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Preheat a greased waffle iron. For best results this should be an American-style iron, whose grid is shallower than a Belgian-style.
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In a medium-sized mixing bowl, beat together the butter, eggs, sugar, and vanilla until light and fluffy.
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In a separate bowl, whisk together the flour, malted milk powder, baking powder, and salt.
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Add the dry ingredients to the wet ingredients, beating until well combined. Stir in the coarse sugar crystals.
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Pour a scant half-cup of batter onto the preheated waffle iron, or however much batter your iron takes to barely fill it completely. Cook the waffles until they're a deep golden brown; this takes about 8 to 12 minutes, depending on just how brown you like them. Don't underbake; they should be crisp when they cool.
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Open the waffle iron, and use a flat spatula or a couple of forks to transfer the waffle (which will be quite tender) to a rack to cool. The waffles are very delicate right out of the iron, so expect a few to tear.
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When the waffles are cool enough to handle, use a pair of scissors to cut them into pieces. Allow the waffles to cool completely, for maximum crispness.
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Store, well-wrapped, for two weeks at room temperature; freeze for longer storage.
