Optically variable devices

A security device comprising a substrate having an array of microlenses on one side and one or more corresponding arrays of microimages on the other side, the microimages being located at a distance from the microlenses substantially equal to the focal length of the microlenses, the substrate being sufficiently transparent to enable light to pass through the microlenses so as to reach the microimages characterized in that each microimage is defined by an anti-reflection structure on the substrate formed by a periodic array of identical structural elements and an at least partially reflecting layer on the same side of the substrate as the anti-reflection structure, the anti-reflection structure reducing the reflective property of the reflecting layer, wherein one or both of the anti-reflection structure and the at least partially reflecting layer is in the shape of a microimage, whereby light passing through the substrate and impinging on the microimages is reflected to a different extent than light which does not impinge on the microimages thereby rendering the microimages visible.