A method for manufacturing a physical security element with a spatially appearing pattern includes a carrier and at least one see-through transparent cover layer. Onto the carrier is applied a design layer deformable under pressure. Either the carrier has a lower dimensional stability under heat than the cover layer, or a cover layer has a lower dimensional stability under heat than the carrier. A see-through transparent structural layer forming the pattern is arranged between carrier and cover layer. The structural layer has a higher dimensional stability under heat than either the carrier or a cover layer. During lamination, the structural layer is pressed into the carrier or into the cover layer, whereby the design layer is deformed under the pattern formed by the structural layer and the structural layer in its edge regions is reshaped in such a way that its surfaces, in cross-section, converge tangentially.