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This is the absolute best Chipped Beef i've ever had. If you don't like sherry, that can be omitted.
- In heavy saucepan, melt the butter and saute the yellow onion until clear.
- Stir in the flour with a whisk and then the hot milk, stirring all the time until the mixture thickens.
- When the mixture is thick, add the remaining ingedients and heat for a moment.
- Serve over toast.