The invention relates to a security element for securing documents of value, comprising a carrier substrate which is provided with a first thin-film element and a second thin-film element, the first thin-film element being a color-shifting thin-film element which gives a viewer a different color impression at different viewing angles, and the second thin-film element is a semi-transparent thin-film element that gives a viewer a different color impression when viewed in reflected light and when viewed in transmitted light, the first thin-film element and the second thin-film element being arranged on the carrier substrate such that the second thin-film element in the form of characters, in the form a pattern or in the form of a coding and the first thin-film element represents a background.
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