Three Dollar Dip – Red
My how the old Serendipity has changed, and not just the name. This fly has evolved into “the Dip”, one of Blue Ribbon’s best guide flies. The brown color has consistently been the shop’s number one producer on the Madison the last couple of years. Tied with thread body and contrasting wire ribbing (a Serendipity on a diet versus the chunkier twisted z–lon bodies of old), smaller profile deer hair wing, bead head. The Three Dollar Dip is a much better midge pattern and yet will still draw lots of strikes as an attractor. It’s a guide fly, and a money fly series.
Specifications
| Feature | Thread body |
|---|---|
| Wing | Smaller profile deer hair |
| Head | Bead head |
| Ribbing | Wire ribbing |
| Pattern Type | Guide fly, money fly |
FAQ
What makes the Three Dollar Dip different from the original Serendipity?
The Three Dollar Dip features a thread body with wire ribbing, a smaller profile deer hair wing, and a bead head. This gives it a more streamlined design compared to the older, chunkier twisted z–lon bodies.
Is the Three Dollar Dip effective as both a midge pattern and an attractor?
Yes, it is a much better midge pattern and still draws many strikes as an attractor due to its natural appearance and action.
Where is the Three Dollar Dip most commonly used?
It has consistently performed well on the Madison river, being the top-selling color in the shop over the past few years.

Faith Paterson –
I’ve used the Three Dollar Dip on several trips to Madison and it consistently gets noticed by trout. The small size and natural look make it effective for both midge patterns and as a general attractor. Works well in both stillwater and moving water conditions.
Christian Hemmings –
The red version is a bit more visible than the brown, which helps in low-light conditions. I tied it with a bead head and found it to be durable and easy to cast. Good for targeting fish near the surface.
Jasmine Peters –
This fly has replaced my old Serendipity in my kit. The thread body and wire ribbing give it a sleek profile that doesn’t look bulky. I’ve seen multiple strikes on the Madison with this pattern.