Launched in 1940, the Reference 1463 was the first water resistant chronograph created by Patek Philippe. This Reference was fitted with a screwback case, instead of the more common snapback, and dust metal cover protecting the movement.

With the production of this Reference until the late 1960s, the present timepiece features a last generation dial, omitting the railway minute divisions. Although production lasted longer than twenty years, it is estimated that less than 800 pieces were created during this time.