Poet, come armed to the teeth with words when confronting the page.
The Second Edition of the Oxford English Dictionary contains full entries for 171,476 words in current use, and 47,156 obsolete words. To this may be added around 9,500 derivative words included as subentries. Over half of these words are nouns, about a quarter adjectives, and about a seventh verbs; the rest is made up of interjections, conjunctions, prepositions, suffixes, etc. These figures take no account of entries with senses for different parts of speech (such as noun and adjective).
This suggests that there are, at the very least, a quarter of a million distinct English words, excluding inflections, and words from technical and regional vocabulary not covered by the OED, or words not yet added to the published dictionary, of which perhaps 20 per cent are no longer in current use. If distinct senses were counted, the total would probably approach three quarters of a million.
[quoted from AskOxford.com]