Alan Pardew's side reportedly tabled a £750,000 bid for the defender but Dyche claims that the bid is a long way off the club's valuation.
"I couldn't begin to tell you how far away it was - my son's got more in his money box," Dyche said.
"If clubs at our level are helping to develop players, I think it's fair to say that big clubs with money should respect that and go about it in an appropriate manner.
"Rather than tickling us with offers which are nowhere near the player's worth, to try to provoke a reaction from us, we do not need to accept the first bid that comes along."
Newcastle are looking to add a defender to their squad as cover due to Steven Taylor's injury.