What does “Coy Mistress” mean in the context of the poem and in modern terms?

Coy would be shy mistress. Marvell wrote this poem in the classical tradition of a Latin love elegy, in which the speaker praises his mistress or lover through the motif of carpe diem, or “seize the day.” The poem also reflects the tradition of the erotic blazon, in which a poet constructs elaborate images of his lover’s beauty by carving her body into parts.