stongm - your soluton is correct, but it is not the same answer as the old bar.
The gold bar requires 2 cuts, the chain only requires one at the 3rd link. Take the link off and give it to the person, then take it back and give them the 2 piece link, and so on...
Again - very similar to the gold bar, but you can do it with just one cut using a chain.
Jim