Preheat the oven to 350° F (180° C). Butter the bottom and sides of a 9-by-13-inch glass baking dish or metal baking pan.

Cut the bread into 1-inch (2.5-cm) squares.

On a large baking sheet, spread the bread squares in a single layer. Bake for about 10 minutes to toast the bread to a golden brown. Halfway through the baking time, turn the bread to toast the other side. Set aside off the heat.

In a large saucepan or stockpot over high heat, combine the piloncillo, anise, cinnamon stick and 6½ cups (2 l) water.

Bring to a boil, then reduce the heat and simmer for about 10 minutes. Set aside off the heat for about 5 minutes.

Pour the piloncillo liquid through a fine strainer to remove the solids, reserving the liquid. Add the raisins to the liquid, cover and set aside for 5 to 10 minutes to plump raisins.

Place half the toasted bread in the bottom of the prepared baking dish. Again pour the piloncillo liquid through a fine strainer, reserving the liquid and raisins separately.

Pour about half the liquid over the bread, making certain the bread is completely soaked. Sprinkle half the soaked raisins and half the pecans over the bread. Evenly distribute all the coconut over the raisins and pecans. Layer ¾ cup (62 g) of each of the cheeses over the coconut. Spread the remaining bread pieces over all.

Pour the remaining liquid over the bread, making certain the bread is completely soaked. Sprinkle the remaining raisins and pecans over the bread. Top all with the remaining cheeses.

Cover with foil and bake for about 25 minutes, until the mixture has puffed. Remove the foil and set aside to cool for about 15 minutes before serving. Sprinkle with ground cinnamon before serving, if desired.