that is an interesting idea. The end links would make sense then, as there is no clasp. The links are individual and bent to shape, not cast. The ends meet, but are not brazed. Any idea on a possible date? I would think anything of newer manufacture would be made of steel not copper. I found a lot of coins nearby, back to 1910.
I think they are probably still made of brass, that is then coated with copper and finally chrome plated to prevent corrosion. If they were made from steel chain they would rust when the chrome wore off. Here is a picture of one I found earlier this year in an area where people park their horse trailers to go trail riding.