Originally Posted by Maddox

Generally, bike collectors won't want you to take a really nice old bike and make it into a fixed gear. This Raleigh comes from their later era, and don't hold the same sentimental or dollar value of the really old one's.

That's not to say it's not a fine bike. It is, and it will suit you very well for a fixed gear. You will probably need a new rear wheel. Check your wheel size - they're either 700c or 27" rims -- if 700c wheels, you can buy a good quality fixed gear rear wheel here. I'd go for one of the Weinmanns in the $65-70 range.

Best of luck.