Cut the bacon into 1/2 inch pieces and add to a large frying pan. Fry up the bacon just until it starts to crisp up (some pieces may still be slightly soft).
Remove the bacon and set aside on a paper towel lined plate to drain. Hold back 1 Tbsp of the bacon fat (toss the rest).
Quarter and slice the onions thin. Add to the large saucepan and sauté in the bacon fat until soft.
To the saucepan, add the brown sugar; allow the onions to caramelize approx. 15 minutes, stirring frequently.
Once those incredible onions caramelize, add the chopped bacon, water, and coffee. Simmer on the stovetop for 25-30 minutes until the mixture starts to thicken. (If you simmer too long, add a bit of extra coffee/water to loosen up the mixture).
Add a splash or two of balsamic and allow all those deliciously addictive flavors to meld together into what is the best bacon jam.
This bacon jam won't last long -- as addictive as it is. However, you'll want to store in a covered jar or container in the refrigerator. The bacon fat (white) will harden on the top of the jar once refrigerated - you'll want to reheat and stir to re-combine the flavors.