Yes, PEANUTS is a Scrabble word!

Letter values in Scrabble US: P 3, E 1, A 1, N 1, U 1, T 1, S 1.

Is it a valid word?

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

an insignificant sum of money; a trifling amount
underground pod of the peanut vine
widely cultivated American plant cultivated in tropical and warm regions; showy yellow flowers on stalks that bend over to the soil so that seed pods ripen underground
a young child who is small for his age
pod of the peanut vine containing usually 2 nuts or seeds; `groundnut' and `monkey nut' are British terms

Also: peanut vine, arachis hypogaea, goober pea, monkey nut.