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Grease a 9 inch spring form pan or deep dish pie plate.
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In a large bowl toss together the baking powder, rolled oats, flour, and brown sugar.
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Using your hands, rub the butter thoroughly through the dry ingredients.
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Press the crumb mixture evenly into the bottom and sides of the greased pan.
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Slice into thick wedges 6 -8 large ripe peaches, peeled or unpeeled; your choice.
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Mix together the brown sugar, corn starch, cinnamon and nutmeg. Sprinkle over the sliced peaches and add the lemon juice and vanilla extract.
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Toss all together with the sliced peaches and pour into the prepared crust. You can arrange the peach slices in a circular pattern in a couple of layers if you like.
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Cover the pie with aluminum foil and bake for 15 minutes at 375 degrees F. Remove the foil, reduce the heat to 350 degrees F and bake for an additional 25 to 30 minutes or until the filling is bubbling.
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Cool for at least 30 minutes to an hour before serving.