Pulse coconut in a blender until it resembles coarse crumbs. You don’t want to pulverize it too much, you just want to break down the flakes a bit.
Mix coconut with powdered sugar. Add 1 can of sweetened condensed milk and mix until sticky dough forms.
Wrap dough in plastic wrap and refrigerate 30 minutes.
Line a baking sheet with waxed paper.
Grease your hands with a small amount of butter and roll refrigerated coconut dough into 1″ balls for the Mounds bites and 1 1/2″ balls for the Almond Joy bites. Press an almond into the center of the Almond Joy bites and roll the dough around the almond.
Place coconut balls onto a parchment or wax paper lined baking sheet.
Freeze 30 minutes.
Melt chocolate in microwave safe dish for 30 seconds. Stir. Add 10 seconds if necessary and stir until smooth.
Dip coconut balls into chocolate, letting excess drain off and place back onto waxed paper.
Let harden.
Optional: place an almond in the center of the coconut ball and form dough around almond. Sprinke with chopped almonds after dipping in chocolate for a garnish.