The present invention relates to a security element (30) for securing valuable articles, having a first optically active layer (32) that is present at least in some areas and comprises a cholesteric liquid crystal material. According to the present invention, a second optically active layer (34) that is present at least in some areas is provided, the first and the second layer (32, 34) being stacked in an overlap area. Here, the first optically active layer (32) selectively reflects light in a first wavelength range having a first circular polarization direction, and the second optically active layer (34), either itself or, in the overlap area, in coaction with the first optically active layer (32), selectively reflects light in a second wavelength range having a second direction of circular polarization.