Grate 2 pounds russet potatoes and 1 small onion on the large holes of a box grater into a bowl of cold water, which keeps them from browning while you prep everything else.
Drain the shreds, wrap them in a clean towel, and wring firmly until the towel comes away nearly dry.
Combine the shreds with 2 large eggs, 1/3 cup flour, 1 teaspoon kosher salt and 1/2 teaspoon pepper in a large bowl, stirring just until it clumps when squeezed.
Heat 1 cup vegetable oil in a 12-inch skillet over medium-high heat to 350°F.
Fry heaping tablespoons of the mixture, four at a time, pressing each into a 2-inch round, for 3 to 4 minutes per side until deep golden and crisp at the edges.
Drain on a wire rack set over a sheet pan and keep warm in a 200°F oven, up to 30 minutes, while you finish the batches.
Let the latkes cool for 2 minutes on the counter; caviar melts and loses its pop on a latke straight from the pan.
Spoon a small dollop of creme fraiche onto the center of each cooled latke.
Top each with a scant 1/2 teaspoon caviar from the tin, using a small spoon rather than metal cutlery, which can give the eggs a metallic taste.
Scatter the chives over the platter and serve within 10 minutes, before the caviar's liquid starts to run.
Good to Know
Buy the caviar the day of the party and keep it in the coldest part of the fridge until the very last minute.