I have a 1976 penny with TN inside what looks like the shape of Tennessee,on the front. Is this a valuable coin?

This sounds like a modified penny done by a private company for the bi-centennial. Purely a novelty item.

I am almost certain that it is a novelty coin. I have several coins from different areas that were done for the bi cenntenial. I was traveling a lot during 1976 for work and saw several that were made for the 1976 celebration