Preheat oven to 350°F. Place the sliced peaches in the bottom of an 8x8x2-inch baking pan. In a small mixing bowl, combine the graham cracker crumbs, cinnamon and nutmeg; mix well.
Gradually blend in margarine and sprinkle mixture over peaches. Bake uncovered for 25 to 30 minutes. Remove from the oven and let cool slightly before serving.
