D&D 5E How do you handle material components on feat spells or racial spells?

[ECMO3]

But wait! Sheep are on the equipment list. So I could spend the first session roleplaying the process of finding someone who has sheep, and negotiating the purchase of a bit of fluff. And then, having determined fair price for that fluff, I will buy the whole entire sheep for the list price of two gold pieces, and earn back my money selling fluff at market rates to the local wizard's guild.

Don't be ridiculous. This would never happen.

The character is a rogue, she would find the sheep and steal the fleece, potentially covering herself by casting minor illusion while pulling the fleece from said sheep's back (after all the component is in hand as soon as she puts a hand to its wool coat).

 

[Nefermandias]

Why was your character permitted to start with an item not on the equipment list? Did your DM house rule it?

RAW you cant cast the spell without the component, even the component without a specific cost unless 1) your class allows you to use an item instead and you have one OR 2) you have a component belt.

If your DM is a real rules lawyer note that "A component pouch is a small, watertight leather belt pouch that has compartments to hold all the material componenets and other special items to cast your spells, except for those components that have a specific cost (as indicated in a spell's description)."

Thus the component pouch has the compartments to hold the components but nothing says that it has the components themselves. Since the components are not on the equipment list you can't just buy them either. Therefore by RAW you would have to acquire the components through adventuring and would be unable to cast spells with material components until you did so.

You can forgo your initial equipment and roll for GP though...

 

[pnewman]

You can forgo your initial equipment and roll for GP though...

Not in Adventurers League or other organized play and that is what I ran in the before times.

 

[Nefermandias]

Not in Adventurers League or other organized play and that is what I ran in the before times.

Sure...

 

[Eltab]

+1 for "Racial spells do not require material components".
You and yours evolved (or were mutated?) to be able to cast magic just this particular way. Or you learned it at school with everybody else and carrying around that no-cost material component is just as natural to your character as carrying a keyring and wallet / purse is to you.