I prefer out of also. In this case both can be used. But it is not that easy always. If there is another preposition, then out from is necessary:
- I come out from behind the building
- He walks out from inside the house
- Money is falling out from inside my glove
So you shouldn't say Money is falling out of inside my glove.
Can you say Money is falling out from my glove? (meaning Money is falling out from (inside) my glove). Well, it's "OK". It makes sense, and sounds "natural enough", because the preposition inside is assumed, even if you don't say it.
If there is no preposition like inside or behind, even assumed, then only out of is correct.