Been making this dish for 40 plus years! A family favorite. All my kids requested the recipe when they got their own places and now make it for their kids.

Step 1: Prep the Dried Beef (10-15 minutes): Gently soak the dried beef in warm water for 10-15 minutes to reduce its saltiness. Drain the water and thoroughly pat the beef dry with paper towels. Then, slice or chip the softened dried beef into bite-sized pieces.
Step 2: Craft the Cream Sauce (3-7 minutes): In a saucepan over medium heat, melt the unsalted butter. Whisk in the all-purpose flour, cooking for 1-2 minutes until it turns a light golden brown (this is the roux). Gradually whisk in the whole milk, ensuring a smooth and creamy consistency. Bring the sauce to a gentle simmer, whisking occasionally, until it thickens.
Step 3: Introduce Flavor and Texture: Gently fold in the sliced or chipped dried beef, allowing it to integrate with the creamy sauce. Season the mixture with black pepper and a pinch of cayenne pepper (if using). Taste before adding salt, as the dried beef may still contribute sufficient saltiness.
Step 4: Simmer and Prepare the Stage (5-7 minutes): Simmer the creamed chipped beef for 5-7 minutes on low heat, allowing the flavors to meld and the sauce to fully thicken. While the mixture simmers, toast your bread slices or biscuits.
Step 5: Serve and Enjoy: Spoon the warm creamed chipped beef generously over the toasted bread slices or biscuits. Garnish with an extra sprinkle of black pepper for a final touch.
Cooking Notes:
Thickness: Feel free to adjust the amount of flour or milk to achieve your desired sauce thickness. For a thicker sauce, add a bit more flour to the roux; for a thinner sauce, whisk in more milk.
Saltiness: The dried beef can be quite salty, so taste the sauce before adding any additional salt.