Cream 1 cup of softened unsalted butter with 1 cup of granulated sugar in a large mixing bowl until light and fluffy, approximately 3-5 minutes.

Add 2 large eggs, 1 teaspoon of vanilla extract, and 1 teaspoon of almond extract, mixing until well combined.

Gradually incorporate 3 cups of all-purpose flour, 1 tablespoon of baking powder, and 1/4 teaspoon of salt, stirring until a soft dough forms.

Scoop out small portions and roll them into balls about 1 inch in diameter. Create a well in the center of each ball and fill it with 1 teaspoon of peach preserves.

Reshape the dough around the filling, seal it in, and place on a parchment-lined baking sheet. Chill in the refrigerator for at least 30 minutes.

Preheat oven to 350°F (175°C). Arrange the chilled cookie balls on a lined baking sheet and bake for 12-15 minutes until lightly golden on the bottoms.

Allow cookies to cool on baking sheet for 5 minutes. Prepare a mixture of 1/2 cup of granulated sugar and 1 teaspoon of ground cinnamon. Roll each warm cookie in this mixture.

Transfer the cookies to a wire rack to cool completely. Store leftovers in an airtight container at room temperature for up to 5 days.