A pigment preparation with metallic effect pigments in compacted form, the pigment preparation including the following components: a) 60%-95% by weight of at least one metallic effect pigment which has at least one low-refractive-index layer (low-index layer) on the metallic core of the metallic effect pigment, the low-index layer comprising or consisting of at least one inorganic component, b) 0.5%-40% by weight of a binder which is free from styrene groups, has an acid number of 150-500 mg KOH/g binder, and a melting point or melting range which lies in the range of 120-200° C., c) a residual moisture content in the range of 0%-15% by weight of at least one of water, organic solvent and a solvent mixture and d) optionally neutralizing agent(s). The disclosure further relates to a method for producing the pigment preparation and also to the use thereof.