The present invention relates to the use of coating compositions, comprising shaped transition metal, especially silver, particles and a binder, wherein the ratio of pigment to binder is preferably such that the resulting coating shows an angle dependent colour change, for the production of security elements and holograms. When the coating compositions of the present invention are used in coating a hologram the obtained products show a an angle dependent colour change (flip/flop effect), different colours in reflection and transmission, an extremely bright OVD image and extremely strong rainbow effect, high purity and contrast.