A counterfeiting prevention label 1 has a label base 3 including a base sheet 31, and a volume hologram 2 including a volume hologram layer 22 and formed on the base sheet 31. The volume hologram 2 is extended between the upper side 31a and the lower side 31b of the label base 3. The opposite end surfaces of the volume hologram 2 are flush with the end surfaces of the label base 3, respectively. The volume hologram 2 may be placed in a depression 3a formed in the front surface of the label base 3. The volume hologram 2 and the label base 3 are blanked out after transferring the volume hologram 2 from a transfer sheet 10 to the label base 3.