Yes, NUTMEGS is a Scrabble word!

Letter values in Scrabble US: N 1, U 1, T 1, M 3, E 1, G 2, S 1.

Is it a valid word?

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

East Indian tree widely cultivated in the tropics for its aromatic seed; source of two spices: nutmeg and mace
hard aromatic seed of the nutmeg tree used as spice when grated or ground

Also: nutmeg tree, myristica fragrans.