The invention relates to a security element for producing value documents, such as bank notes, checks, or the like. The security element comprises a dielectric substrate (1); a first line grating structure (2), which is embedded in the substrate (1) and which consists of a plurality of first grating webs, with the first grating webs (3) extending in a longitudinal direction, being arranged in a first plane (L1) and being composed of a highly refractive material; and a second line grating structure (6), which is embedded in the substrate (1) and which consists of second grating webs (7), wherein the second grating webs extend in the longitudinal direction and are composed of a highly refractive material and are located over the first line grating structure (2) in a parallel second plane (L2) in relation to the first plane (L1). The first grating webs (3) each have a first thickness (t1) and a first width (b) and lie adjacent to each other at a distance (a) so that first grating gaps (4) extending in the longitudinal direction and having a width corresponding to the distance (a) are formed between the first grating webs (3) and the second line grating structure (6) is inverted in relation to the first line grating structure (2). In a top view of the first plane (L1), the second grating webs (7) each have a second thickness (t1) and lie over the first grating gaps (4) and second grating gaps (8), which exist between the second grating webs (7), lie over the first grating webs (3), and the width of the first grating webs (3) and of the second grating gaps (8) and the width of the second grating webs (7) and of the first grating gaps (4) are each below 300 nm, wherein the security element produces a color effect in transmission observation and the first and the second thickness (t1, t2) are at least 100 nm, preferably at least 150 nm.