Beat the eggs, egg yolk, and sugar until light and fluffy. Slowly beat in the milk, heavy cream, and vanilla. Reduce speed and add 2 tsp cinnamon and the nutmeg.

Generously butter a 9-inch square pan and sprinkle with 1 tsp cinnamon. Add 1 cup of the rum-soaked raisins. Layer with bread slices and half of the custard mixture, pressing gently so the bread absorbs the liquid. Repeat with the remaining cinnamon, raisins, bread, and custard, making sure the bread is well soaked. Sprinkle the top with additional cinnamon. Cover with lightly buttered heavy-duty aluminum foil.

Place the pan in a larger pan filled halfway with hot water. Bake at 300°F for about 90 minutes, or until the internal temperature reaches 160°F. Garnish with toasted coconut, if using.

Goslings Black Seal Rum® Hard Sauce Method

In a small heavy saucepan, heat the brown sugar and 3 tbs Goslings Black Seal Rum® over medium-low heat until the sugar dissolves. Stir in the orange peel and cool to room temperature.

Beat together the butter and powdered sugar until smooth. Mix in the rum-sugar mixture. Chill before serving.