In order to increase the security of value or security documents 100, a multi-luminescent security element 400 is provided which contains at least one first luminescence means 510 and at least one second luminescence means 520. The first luminescence means 510 can be excited under first excitation conditions Sp-1 for the purpose of luminescence, and the second luminescence means 520 can be excited under second excitation conditions Sp-2 for the purpose of luminescence, said second excitation conditions Sp-2 differing from the first excitation conditions Sp-1. The multi-luminescent security element 400 is additionally equipped with at least one absorber means 600 which prevents an excitation of the at least one first luminescence means 510 under the second excitation conditions Sp-2 for the purpose of luminescence.