The localization lengths of ultrathin disordered Au and Ag nanowires are estimated by calculating the wire conductances as functions of wire lengths. We study Ag and Au monoatomic linear chains, and thicker Ag wires with very small cross-sections. For the monoatomic chains we consider two types of disorder: bounded random fluctuations of the interatomic distances, and the presence of random substitutional impurities. The effect of impurity atoms on the nanowire conductance is much stronger. Our results show that electrical transport in ultrathin disordered wires may occur in the strong localization regime, and with relatively small amounts of disorder the localization lengths can be very small. The localization length dependence on wire thickness is investigated for Ag nanowires with different impurity concentrations.