That's kind of the attitude I've taken with Daisy, but I don't have small children to worry about. Just me and her so there's a lot more control over her interactions when she has a bone.You can also give your dog the bone in his crate where no one can mess with him while he is eating his bone and it doesn't become an issue. Just another option.
I agree with Joe, my dogs have their very hard to destoy beef bones. Any sign of growling they go up. They learned over time, I don't have any problems with any of them sharing their bones with humans or other dogs.The minute he starts growling, the bone needs to be taken away from him.
What kind of bone was it? At just 4 months old and even as an adult, you need to be very, very careful with bones, but even more so at such a young age. Tucker didn't get his first bone until he was over 6 months old and had all of his adult teeth, and that was a big soup bone from the butcher. We don't give any other types of bones due to the potential dangers of choking and intestinal obstruction.
The first few times I give a dog a bone, I hold one end of it. That way the only way they can have it is to accept me touching it.