You can legally sell the pages. It is your magazine and you can do with it what you want, but you CAN NOT photo copy and SELL the copy of the pattern. Big difference. You can give away anything you want to.
You also can not teach a class and give away the pattern.
This should not be a matter of conscience as it is legal.

If something is readily available to purchase, I am in favor of buying one's own copy.

How can one honor a copyright if the item is not available any more?

I don't feel any guilt about receiving or copying a quilt pattern that is no longer available to buy anywhere. If the designer/offspring/publisher wanted the profits it should be available to buy.

What I do is to make copies of anything I'm interested in keeping, then I pass the magazine in it's entirety along to any of my quilting buddies who might want it. I then store the patterns I've printed out in those plastic pouch pages in a binder. When you have limited space, that takes up less room than keeping the whole magazine. The ONLY exception is my 100 blocks magazines, which I keep myself. I have another binder for those.

It does seem a bit silly to say you can sell it to her, she pays you $1.00, then it is hers to make a copy for herself, she no longer wants or needs the magazine so she sells it back to you for $1.00. As long as you are not doing it for a profit, you make the extra copy for yourself, oops, you don't want the copy any more so give it to your friend.

It is nice to be concerned but you are not making 15 copies and teaching a class on it. Make the copy and don't worry about it. A friend & I work together all the time to understand a pattern if we are having trouble. I don't feel a need to pay extra for a pattern, or pay the quilt shop where we bought the pattern but didn't sign up for a class. There are too many videos on the internet that are free and we have a good time working together.

(The project in question is a series quilt in 10-year-old magazines, so I know the pattern is not on the market.)
Thank you to everyone who shared.

Like another poster said, I wouldn't lose sleep over copying one pattern from an old magazine.

I have this question too. Does anyone know?

Contact the copyright holder. At the end of the day, though, it is still their design even if they are not publishing it at the moment. Sometimes a design will go out of publication for a time, but with enough interest will be republished. The thought is that if potential customers are getting the design for free, they will not be motivated to encourage the publisher to re-publish the design for people to purchase.

I do on occasion find that a copyright holder truly has no desire to republish & will grant permission to make copies of their design free of charge.