I’m a land surveyor, I generated the original GCP data (points) using our equipment (Centimeter level accuracy).
I also generated the GPS data on my images using a separate Multi-band single frequency GPS receiver (Emlid Reach) post processed against a CORS station to get a GPS fix for each image. Again, Centimeter level accuracy. (I capture the Image event in a log file using a “Hot Shoe” adapter attached to my Sony NEX 5N’s flash, I then Geo-Tag the images in Geosetter)
We record our survey data using Arkansas State Plane coordinate’s NAD83(2011) / Arkansas South (ftUS) (EPSG 6413)
My images (as are most images) are Geo-Tagged using WGS84 (EPSG 4326 most likely)
The two formats you mention are the same Coordinate Reference System most likely WGS84 (EPSG 4326) one in Degrees Minutes and Seconds the other simply Decimal Degrees