Ideally you would want to do this the previous night. In a pie plate (or a bowl), whisk together the milk, eggs, honey, and salt.
Make sure the honey is warmed for 10-15 seconds. This helps it to get mixed well with the rest of the ingredients. Though doing this ahead definitely helps in the end product, I find that making this custard right in the morning still makes for a good toast. When ready to cook, pour custard mixture into a pie pan and set aside.
Preheat oven to 375 degrees F
Dip a bread slice (thickness ideal between 1/2 inch to 1 inch) into the custard mixture. Every foodie would look down upon the word stale, but in this good stale is good. A day old or a drier piece of bread is preferable since it tends to absorb the liquid better than fresh. Dip bread into mixture,
allow to soak for about 30 seconds on each side,
and then remove to a cooling rack that is sitting in a sheet pan, and allow to sit for 1 to 2 minutes. This step really enhances the taste and I would recommend not skipping this step. It does make a difference.
Preheat the pan over medium-low heat. Once hot, melt some butter.
Place slices of bread (one or two depending on the size of your pan)
and cook until golden brown, approximately 2 to 3 minutes per side. Remove from pan and place on rack in oven for 5 minutes. The oven step makes it crispier on the outside and the short time ensures that the insides are still creamy. I have many a time skipped this step owing to time and it still tastes pretty good. Try both before settling down to a preferable method. Repeat for the rest of the slices.