Etymology
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coy (adj.)

early 14c., "quiet, modest, demure," from Old French coi, earlier quei "quiet, still, placid, gentle," ultimately from Latin quietus "free; calm, resting" (from PIE root *kweie- "to rest, be quiet"). Meaning "shy, bashful" emerged late 14c. Meaning "unwilling to commit" is by 1961. Related: Coyly; coyness.

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Definitions of coy

coy (adj.)
affectedly modest or shy especially in a playful or provocative way;
Synonyms: demure / overmodest
coy (adj.)
showing marked and often playful or irritating evasiveness or reluctance to make a definite or committing statement;
a politician coy about his intentions
coy (adj.)
modestly or warily rejecting approaches or overtures;
like a wild young colt, very inquisitive but very coy and not to be easily cajoled
From wordnet.princeton.edu