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The 'SOLD OUT' bar on our listings...
If you copy, you're basically using the listing as a template for a new listing, and it is viewed as an whole new item - albeit with similarities to the other - and therefore the old one is still sold out.
However, if you copy the listing, its considered a new item so the original one will still be sold out.
If you are listing the same item again, you would be much better off as far as back links to your shop go to renew the sold item. The reason being is that anyone who has that item in their favourites will see it as still available for sale and any links generated to it from outside of Etsy will still point to the listing for sale rather than the sold one.