Sprinkle roast with pepper; dredge in 1/4 cup flour. Brown roast on all sides in hot bacon drippings in a large Dutch oven. Place onion rings over roast; add beef broth and coffee. Cover and simmer 1 1/2 hours or until meat is tender.
Add carrots, potatoes, and 1 teaspoon salt. Cover and simmer an additional 30 minutes or until vegetables are tender. Remove roast and vegetables to a serving dish, reserving cooking liquid in Dutch oven.
Combine 2 cups water, 1/4 cup flour, and remaining 1/2 teaspoon salt; blend until smooth. Stir flour mixture into reserved cooking liquid. Cook, stirring constantly using a wire whisk, until smooth and thickened. Serve gravy with roast and vegetables.