Poesy, n.
Etymology: [F. poésie (cf. It. poesia), L. poesis, from Gr. Posy.]
1. The art of composing poems; poetical skill or faculty; as, the heavenly gift of poesy. Shak.
2. Poetry; metrical composition; poems. Music and poesy used to quicken you. Shak.
3. A short conceit or motto engraved on a ring or other thing; a posy. Bacon.
Shades of meaning
Fernald has no entry of its own for poesy; he lists it under poetry.
He lists it without comment; the entries above explain its neighbors.