Start by peeling the peaches. Bring a large pot of water to a boil, and set up an ice bath nearby. Score a small x on the bottom of each peach. Gently drop the peaches into the boiling water and boil for about 30 seconds. Using a large slotted spoon, remove each peach and immediately plunge into the ice bath. Once cool, remove peaches from the ice bath. Using your fingers, peel away the skin. It should slip off easily.

Pit and coarsely chop the peaches.

In a large pot or Dutch oven, combine the chopped peaches, sugar, lemon juice, and vanilla beans (including the pods) over medium heat. Bring the mixture to a boil, then reduce heat to a simmer.

Cook, stirring occasionally, until the fruit has partially caramelized and turned a deep orange color, about 90 minutes. You can test the set by dipping a cold spoon in the jam and watching how it falls. If it easily drips off, it’s not set. If the droplets run together to form a sheet, it’s ready.

Remove and discard vanilla bean pods.

While the peach mixture is cooking, prepare your jars by following the instructions for water bath canning.

Divide the jam evenly among sterilized half-pint jars and can using the water bath method. Process the jars for 10 minutes, adjusting for altitude.

If you choose not to preserve the jam, the jars can be stored in the refrigerator for several weeks or frozen for several months.

Serve jam on homemade bread, over vanilla ice cream, or mixed into your favorite spirit or sparkling water.