Melt the butter in a medium skillet over medium heat. Add the roughly cut dried beef ribbons and cook for 2-3 minutes until they darken in color and start to crisp, releasing flavor into the butter.

Stir in the all-purpose flour, black pepper, salt (if using), cayenne pepper (if using), and ground nutmeg. Cook the mixture for about 2 minutes, stirring frequently until the flour turns golden and fragrant to develop a roux that will thicken the sauce.

Gradually pour in the room temperature milk while whisking continuously to avoid lumps. Keep whisking for about 5 minutes as the mixture simmers and thickens. Cook until the sauce coats the back of a spoon, then remove the skillet from the heat.

While the sauce thickens, toast the thick sliced bread slices until golden and crisp.

Lay 1-2 slices of toasted bread on each plate. Generously spoon the creamy chipped beef gravy over the toast. Garnish with freshly minced parsley if desired and serve immediately.