Yes, SAFFRON is a Scrabble word!

Letter values in Scrabble US: S 1, A 1, F 4, F 4, R 1, O 1, N 1.

Is it a valid word?

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

Old World crocus having purple or white flowers with aromatic pungent orange stigmas used in flavoring food
dried pungent stigmas of the Old World saffron crocus
a shade of yellow tinged with orange

Also: saffron crocus, crocus sativus, orange yellow.