In July 1962, Damon was admitted into the UCLA Medical Center in Los Angeles. On July 21, Damon died of what was later determined to be a massive heart attack. He was 54. He was survived by his wife Ginger and daughter Lisa. Damon is buried in Beverly National Cemetery in Beverly, New Jersey. Two months later in September of that year with the end of "Suspense" and "Yours Truly, Johnny Dollar" marked the end of the Golden Age of Radio. Damon's wife, Ginger, died on August 6, 2010 at 94. She is buried with her family in Kinderhook, Illinois.