Provided are a computer program product, system, and method for maintaining multiple copy versions of component values in a system. A database includes entries for components in a system, wherein there is one entry for each of a plurality of component values associated with a component, wherein each entry indicates a range of copy versions for which the component value applies. A copy operation is performed at a current time to create a current copy version. A determination is made as to whether the component values for the components at the current time have changed since a previous copy version. The previous copy version is maintained in the database and immediately precedes the current copy version. For each component value that has changed, the entry for the component having the open indicator as the end copy version is updated to indicate the previous copy version as the end copy version.