You should use DECIMAL
or in the case of PostgreSQL its equivalent is NUMERIC
since it will allow you to do mathematical operations on the data you store
An example of the declaration should be like this:
CREATE TABLE ubicaciones(
ubicacion VARCHAR(10),
latitud NUMERIC(10,8),
longitud NUMERIC(10,8)
);
Since being coordinates you will need to calculate: distance, averages, etc.
As you yourself can check in the documentation for the type area says
NUMERIC = > It is an exact data of a selectable precision
DOUBLE = > Double precision floating point number
So I see that double can become ambiguous and risky to use it
Even another option is that through PostgreSQL you use JSON data to save both records in the same column, I'll give you an example
CREATE TABLE paises(
ubicacion VARCHAR(10),
precisiones JSON
);
Later you would insert the data in this way
INSERT INTO paises(ubicacion, donde)
VALUES('Mexico', '{"latitud": "19.1571124", "longitud": "19.4875414"}');
And finally reading them would look like this:
SELECT * FROM datos;
ubicacion donde
Mexico {"latitud": "19.1571124", "longitud": "19.4875414"}