Reflexive Verb (v): Being Bilbo Bagisn'd means one has just been shuddered at, in surprise and alarm, while trying to reach for a marijuana smoking device. The person doing the bagginsing will generally mimick the suprised and alarmed face of Bilbo Baggins yelling "don't touch it!", or some other defensive speech pattern, while hiding the bong as if it is the most preciousthing in the world to them.
Stoner 1: Hey dude lemme hit that Shii--(while reaching for bowl)
Stoner 2: (turns away erratically while pulling bowl in safer area next to his chest), exhibits some strange noise as a manifestation of a defensive and alarmed response, or yells, "don't touch it"
Stoner 3 to Stoner 1 " ha you just got bilbo baggins'd son!"
It is said of the situation where a person has the bad luck to make contact with his testicles against an undefined surface or object, intentioned or not.
Given the nature of the word, it is more appropriate to design cases where the interaction is made with a moving object, for example, a ball.
Although it is extremely painful for the victim, it tends to be considerably funny to people who witness it.
Today in the baseball game the pitcher took a nutshot; the baseball hit him in the nuts.
Man, I just watched the funniest nutshot video ever.