A native of Russia, Peters joined the Navy from Pennsylvania and served as a boatswain's mate first class on the USS Missouri (BB-11).

[1] On the night of September 14, 1904, the Missouri was finishing up three weeks of target practice off the coast of Martha's Vineyard, Massachusetts, when a storm struck.

As they were doing this, a large wave crashed over the deck, scattering the men and washing one youthful sailor, Ordinary Seaman Cecil C. Young, overboard.

Wearing oilskins and heavy boots, Young sank beneath the waves and drowned before Peters and Halling could reach him.

Peters' official Medal of Honor citation reads: For heroism in attempting to rescue from drowning Cecil C. Young, ordinary seaman, 15 September 1904, while serving on board the U.S.S.