Bring a large pot of water to a boil. Fill a large bowl with ice water. Score an X in bottom of peaches with a paring knife. Place peaches in boiling water for 45 seconds, then immediately transfer to ice bath. Remove skins from peaches. Halve peaches, and remove pits. Cut each half into 6 to 8 slices.
Bring peaches, sugar, and lemon juice to a simmer in a pot, and then transfer to a bowl. Cover with plastic wrap, and refrigerate overnight.
Bring preserves to a simmer in a large saucepan, skimming foam from surface as necessary. Continue to cook for 15 minutes, stirring occasionally.
To seal and process, fill hot, sterilized jars with hot preserves, leaving 1/4-inch space in each jar's neck. Wipe rims of jars with a clean, damp cloth, and cover tightly with sterilized lids and screw tops. Working in batches, transfer jars, using tongs or a jar clamp, to the rack of a large canning pot filled halfway with hot water, being sure to keep jars upright at all times. Add enough hot water to cover jars by 2 inches. (Jars should be spaced 1 inch apart, and should not touch sides of pot.) Cover, and bring to a boil. Process jars in gently boiling water for 5 minutes. Transfer to a wire rack, and let cool for 24 hours.
Once jars have cooled, test the seal. Press on each lid. If lid pops back, it is not sealed; refrigerate immediately, and use within 1 month.
Sealed jars can be stored in a cool, dark place for up to 1 year.
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