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Tin is a common ore found in many caves and cliffs.
Tin is useful for making early-game tools. Copper is your best alternative for armor, as both armors are the same, but tin has better tools.
Tin has tools which are as strong as Stone Tools, which deal 5/4/3/2/1 damage (Sword/Axe/Pick/Shovel/Hoe) which makes it quite useful when you start out.
Tin can also be used to make Steel, which is as powerful as diamond, but quickly loses relevance if you have the OreSpawn mod, or just a better armor mod. Even playing with the Titans Mod, it still doesn't stay for long because of the existence of Harcadium.