West Bromwich Albion are expected to make a bid for Fox after losing Paul Robinson to Bolton but so far, only one unacceptable bid has been received for the former Walsall man.
"I have got to be honest with our supporters and I can't stand here and say that we are not going to lose any of our players, but we don't want to sell anyone," said Chris Coleman to the CT.
"I am not surprised by the interest in Danny. "He was voted in the Championship team of the season and he deserved that along with Keiren Westwood, and he has come back and looks even better than last year.
"He is in top form and his quality in training is absolutely fantastic.
"We saw Keiren pulling off a few good saves against Wrexham on Saturday and I told everyone when I signed him that he is the best keeper outside the Premier League and he has proved that. "That is not a one-off.
"He is a very talented kid, as well as Danny Fox and Aron Gunnarsson, and they are going to be linked with other clubs.
"We saw what happened with Scotty Dann and I would never lie to the supporters.
"If there is a massive bid for any of those players, the odds are they are going to be out the door. "But then we can hopefully reinvest that money in the squad.
"I have had one conversation with one club about Danny Fox. "There was a bid that I thought was pathetic for a player of his calibre and we said no.
"I told Danny that and he's fine, he's happy where he is so that's where we are at."
As with managerial protocol, Chris Coleman won't be mentioning who put in the unacceptable bid. However, many Nottingham Forest fans are believing that their club has bid £1.6m for Fox this morning according to various message boards.