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1
In a large bowl, sift the flour with the baking powder, nutmeg, salt, baking soda and mace.
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2
In a small bowl, whisk the eggs and egg yolk with the sugar and the melted butter.
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3
Stir in the buttermilk and molasses.
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4
Add the liquid mixture to the dry ingredients and mix vigorously with a wooden spoon, until a soft and slightly sticky dough forms.
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5
Turn the dough out onto a heavily floured surface and gently knead 3 times.
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6
Roll out the dough to a 10-by-14-inch rectangle 1/4 inch thick.
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7
Stamp out the doughnuts with a floured 3-inch doughnut cutter (see Note), dipping the cutter in flour between each cut.
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8
Let the doughnuts rise for 5 minutes before frying.
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9
Meanwhile, gently knead and reroll any remaining dough and repeat.
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10
In a large, heavy saucepan or deep cast-iron skillet, heat the peanut oil until it registers 375 on a deep-frying thermometer.
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11
Working in small batches of 3 or 4, carefully slide 1 doughnut at a time into the hot oil; the temperature of the oil should drop to 360 as soon as you have a full batch.
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12
As soon as the doughnuts float to the surface, turn them with a slotted spoon and fry for 45 seconds.
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13
Turn them again and fry for 45 seconds longer.
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14
Carefully transfer the doughnuts to paper towel-lined racks and drain on both sides.
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15
Dip the warm doughnuts in the cinnamon sugar or warm Chocolate Glaze and serve at once.
