Bilbo, Luckwearer // Burglar's Plot

An adventurer card is a permanent card in every zone except the stack, as well as while on the stack if not cast as an Adventure. Ignore its alternative characteristics in those cases. For example, while it's in your graveyard, Bilbo, Luckwearer is a blue creature card whose mana value is 2. It can't be put into your hand by the effect of Speak Secrets ("Mill four cards, then put an instant or sorcery card from among them into your hand.").

If an adventurer card ends up in exile for any other reason than by exiling itself while resolving, it won't give you permission to cast it as a permanent spell.

If you cast an adventurer card as an Adventure, use only its alternative characteristics to determine whether it's legal to cast that spell. For example, if you control Gandalf, Party Guest ("At the beginning of combat on your turn, you may cast an instant or sorcery spell with mana value X or less from your hand without paying its mana cost, where X is twice the number of legendary Wizards you control."), you could cast Burglar's Plot from your hand without paying its mana cost (provided you control enough legendary Wizards), but not Bilbo, Luckwearer.