Circulating osteogenic precursor (COP) cells are a heterogeneous population of cells that circulate within the peripheral blood with characteristics of the bone marrow mesenchymal stem and progenitor pool. Little is known about the behavior of this cell population in humans. The aim of this study was to identify whether a relationship exists between COP cells (as a percentage of the peripheral blood monocytic cells) and musculoskeletal morphometry and to identify if COP have potential clinical utility as a biomarker for osteoporosis. We recruited 57 older adults (Median age: 69, IQR: 65, 75) living independently in the community and performed cross-sectional analysis to identify associations between the percentage of COP cells and body composition parameters, and through receiver operating characteristic analysis, evaluated their ability to act as a biomarker of osteoporosis. COP cells were moderately associated with whole-body bone mineral density (BMD) (r=0.323, p=0.014) and bone mineral content (BMC) (r=0.387, p=0.003), neck of femur BMD (r=0.473, p <0.001) and BMC (0.461, p <0.001) as well as appendicular lean mass (ALM) (p=0.038) and male sex (p=0.044) in univariable analysis. In multivariable analysis controlling for age, gender, height and weight, COP cells remained strongly associated with neck of femur BMD (p=0.001) and content (p=0.003). COP cells were also a good predictor of osteoporosis (DXA T-score <-2.5) at the neck of femur (cutoff: 0.4%, sensitivity: 100%, specificity 79%) and total body (cutoff: 0.35%, sensitivity: 80%, specificity: 81%). This study shows strong relationships between bone parameters and COP cell number and ALM and male sex. They also have potential as a biomarker of osteoporosis, which may provide a new tool for advanced detection and screening in clinical settings. Future larger evaluation studies should verify the cut-offs for biomarker use, and further explore the relationship between COP cells and muscle.