Yes, GRACES is a Scrabble word!

Letter values in Scrabble US: G 2, R 1, A 1, C 3, E 1, S 1.

Is it a valid word?

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

(Christian theology) a state of sanctification by God; the state of one who is under such divine influence
elegance and beauty of movement or expression
a sense of propriety and consideration for others
a disposition to kindness and compassion
(Greek mythology) one of three sisters who were the givers of beauty and charm; a favorite subject for sculptors
a short prayer of thanks before a meal
(Christian theology) the free and unmerited favor or beneficence of God

Also: saving grace, state of grace, good will, grace of god, free grace.