In a large bowl, stir together 2 cups of the flour and the yeast; set aside.
In a saucepan, heat and stir water, honey, butter or margarine, and salt until just warm (120 degree F to 130 degree F) and butter is almost melted. Add to flour mixture. Beat with electric mixer on low to medium speed for 30 seconds, scraping side of bowl. Beat on high speed for 3 minutes. Using a wooden spoon, stir in as much of the remaining flour as you can.
Turn dough out onto a lightly floured surface. Knead in enough of the remaining flour to make a moderately stiff dough that's smooth and elastic (6 to 8 minutes total). Shape dough into a ball. Place in a lightly greased bowl, turning dough once to grease surface. Cover; let rise in a warm place until doubled (about 1 hour).
Punch dough down. Turn dough out onto a lightly floured surface. Divide the dough in half. Cover and let rest for 10 minutes.
Meanwhile, grease 2 baking sheets. Shape each portion of dough into a 6-1/2x5-1/2x2-inch oval loaf. Place on prepared baking sheets. Slightly flatten each loaf. Cover; let rise until nearly doubled (about 45 minutes).
Brush tops of loaves with beaten egg. Sprinkle each loaf with 1/4 cup of the sesame seed. Gently press sesame seed into tops of loaves before baking. Bake in a 375 degree F oven for 35 to 40 minutes or until bread sounds hollow when tapped. (If necessary, cover with foil for last 15 minutes of baking to prevent overbrowning.)
Remove from baking sheets; cool on wire racks. Makes 2 loaves.