Yes, CENTIME is a Scrabble word!

Letter values in Scrabble US: C 3, E 1, N 1, T 1, I 1, M 3, E 1.

Is it a valid word?

CENTIME is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

a fractional monetary unit of several countries: France and Algeria and Belgium and Burkina Faso and Burundi and Cameroon and Chad and the Congo and Gabon and Haiti and the Ivory Coast and Luxembourg and Mali and Morocco and Niger and Rwanda and Senegal and Switzerland and Togo
a coin worth one-hundredth of the value of the basic unit