Butter a 9-inch pie plate. Melt butter and pour over graham cracker crumbs and toasted coconut in a large bowl; stir until combined. Cool slightly and press with your hands into the bottom and sides of the buttered pie plate.
Refrigerate the crust for 15 minutes, then bake for 10 minutes or until golden brown. Cool for at least 20 minutes while preparing filling.
Increase the oven temperature to 325°F If doing the peanut butter version of this pie, spread slightly melted soft peanut butter evenly on the crust bottom with a plastic or offset spatula.
Evenly scatter the nuts, chocolate chips and butterscotch chips on top of the crust. Pour the sweetened condensed milk over the filling. Gently shift the pan to make sure the milk has been distributed evenly.
Bake for 35 to 40 minutes, or until golden brown and bubbly. Transfer to a wire rack and cool completely. Chill for an hour in the refrigerator before slicing and serving.