People have done this, but why would you? It would be more labor
intensive and MUCH more expensive.
Well, it depends on the chain. Mostly, I agree--especially for
anything dainty. But, some years ago, I made a series of chains out
of PMC with links that were tied in knots. I made them all in one
piece, laid them out zig-zag to fire so they wouldn't pull apart
from the shrinkage.
I could not have made these chains nearly as well any other way,
though I guess they would be possible in wax if I cut each link,
cast, assembled and re-soldered. The PMC was a lot quicker and
easier for this design.
I will say, the very first one has had to be repaired three times,
even though the links are quite thick and heavy. (This was original
PMC) The links just cracked open. Maybe I didn't fire it well
enough. The others have been fine-- or, at least, they haven't come