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It's still legal tender so you can spend it or take it to a bank. However that may not be the best idea because (a) you'll only get $1 for it and (b) the government stopped exchanging them for real silver over 40 years ago. All you'll get is a new $1 bill or $1 coin.

Depending on its condition and what letter is next to the date you might be able to sell it to a currency dealer for a bit more than face value. 1935 silver certificates are fairly common, so you won't get much though. For example, the rarest standard-issue 1935 bill is the 1935-G series with the motto In God We Trust on the back; it retails for about $5 so a dealer may offer you $3. However some varieties such as those with series letter E, F, or H retail for just 25 to 50 cents above face value so a dealer will only pay $1.

If you can't sell it, it will at least make an interesting conversation piece and keepsake.

If by "cash in," you mean exchange for silver, this was discontinued in 1968.

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Q: Where do you cash in a 1935 silver certificate dollar bill?
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