Heat oven to 375°F. Line bottom of 8- or 9-inch round cake pan with waxed paper. Separate dough into 10 biscuits. Cut each into quarters.
In medium bowl, mix sugar, raisins, nuts and lemon peel. Dip biscuits in melted butter; place in sugar mixture and toss to coat. Arrange in single layer in waxed paper-lined pan. Sprinkle top with any remaining sugar mixture.
Bake 20 to 25 minutes or until deep golden brown. Run knife around side of pan to loosen. Place heatproof serving plate upside down over pan; turn plate and pan over. Remove pan and waxed paper. Cut coffee cake into wedges or pull apart. Serve warm.