This cache demonstrates a novel (though impractical) way to determine latitude. I have not seen any other geocache that uses this theme. In addition, there is an alternative route to finding it in the summertime that has been a family fun outing for us for several years.
The given coordinates are not the cache location. It is quite close, but you must visit the historical marker at this location to determine the year YYYY when gold was discovered here, leading to the first mine (the "pit") in the area.
The longitude of the cache is W83 58.XXX where XXX = (YYYY-1681).
To determine the latitude, imagine a Foucault pendulum constructed above the cache and set swinging. In one hour, the pendulum will precess 8.497 degrees. Assume earth's rotation is 360 degrees per 24 hours.
A fun way to hunt this cache is via tubing on the Chestatee River. Visit Appalachine Outfitters (parking at 34 29.968 / 83 58.150), rent a tube for $6/pp, then float down the river to the landing on the south bank, get out and hike back up the trail to the cache, which is hidden in a location conducive to hunting in a swimsuit and sandals. Of course you need to waterproof your GPSr.
Alternatively the trail can be accessed from Highway 60.
Congratulations to first finder: Trailerman