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In a medium saucepan, combine sugar, flour and salt over a medium heat; gradually stir in milk.
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Cook and stir over medium heat until the mixture is thick and bubbly.
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Reduce heat to low and cook 2 minutes more.
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Remove the pan from heat.
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Separate the egg yolks from whites.
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Beat the egg yolks slightly.
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Gradually stir 1 cup of the hot mixture into yolks.
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Return the egg mixture to the saucepan and bring the entire mixture to a gentle boil.
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Cook and stir 2 minutes before removing the pan from heat.
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Stir butter, vanilla, and coconut into the hot mixture.
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Let cool 5 minutes, then pour into serving dishes and chill several hours until serving time.
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The hot mixture can also be poured into a baked 9 inch pie crust for coconut cream pie.
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Top with meringue and brown or just top with whipped cream.