Fill a bowl with ice and cold water to make an ice water bath; set aside. Slice a small, shallow "x" in the bottom of each peach. Bring a large pot of water to a boil, and blanch the peaches in the boiling water for 1 minute, working in batches if neccessary. Transfer to the ice water bath with a slotted spoon, and leave there until cool. Slide the skins off the peaches, then halve and pit. Slice into 1/3-inch slices, and place in a large bowl. Cover with sugar and lemon juice, and let stand for 30 minutes.

Place a small plate in the freezer. Transfer the peach mixture to a large, heavy pot. Add 4 of the tea bags, and crumble the contents of the 5th tea bag over the peaches. Bring to a boil, and cook, stirring gently, for 15-20 minutes. Remove the tea bags and discard. Check the preserves for doneness by spooning a small amount onto the plate from the freezer. Tilt the plate, and if the jam doesn't run, it's done (if it does, cook for a few more minutes until it thickens up a bit.) Skim any foam from the surface of the jam, then ladle into 4 clean, hot pint jars. Wipe the rims with a damp towel, then seal and process for 10 minutes in a boiling water bath.